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Sun Life nears deal on U.S. reinsurance debacle

Article Abstract:

Industry analysts said that Toronto, Ont.-based Sun Life Assurance Company of Canada may accept a proposed settlement in a reinsurance case related to a workers compensation insurance pool operated by Unicover Managers Inc. Sun Life, which could lose as much as $910 million, may settle the case with New York, NY-based Reliance Group Holdings Inc.

Sun Life plans to boost return

Article Abstract:

Toronto, Ont.-based Sun Life Assurance Company of Canada has announced that it will cut $160 million in operating costs while spending $700 million on a business expansion plan. Sun Life, which is led by chairman and chief executive officer Donald Stewart, is a life insurance company.